Melco Crown Entertainment Limited (MLCO) Posts Earnings Results, Beats Expectations By $0.04 EPS
Melco Crown Entertainment Limited (NASDAQ:MLCO) posted its quarterly earnings data on Thursday. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04, reports. Melco Crown Entertainment Limited had a net margin of 5.11% and a return on equity of 9.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year.
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A number of analysts have recently issued reports on the stock. Roth Capital assumed coverage on shares of Melco Crown Entertainment Limited in a report on Wednesday. They set a “buy” rating and a $34.00 price objective for the company. Zacks Investment Research cut shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Nomura upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Instinet upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $29.00 in a research report on Tuesday, September 19th. Finally, Macquarie decreased their target price on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Melco Crown Entertainment Limited has an average rating of “Buy” and an average target price of $23.77.
Melco Crown Entertainment Limited Company Profile
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
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